Metals Worth $10 Trillion Needed To Hit Net Zero, Says BNEF

Almost $10 trillion of metals like copper, nickel and aluminum will be needed for the world to hit net zero emissions by 2050, according to BloombergNEF.

Extra demand from sectors including power generation, battery storage, electricity grids and transport will affect the spectrum of metals, from those deemed crucial to the energy transition like copper to old economy stalwarts such as steel. While there are risks in ensuring supply, China holds a central role in boosting production, accounting for over half of the world’s refining capacity of key materials such as lithium, rare earths, graphite and cobalt.

“Raising metals ...